Stock Name: Tee
Company Name: TEE INTERNATIONAL LIMITED
Research House: CIMB
Company Name: TEE INTERNATIONAL LIMITED
Research House: CIMB
CIMB initiates coverage on TEE International (577.SG) with Buy call, $0.57 sum-of-parts target price, says Dow Jones.
CIMB says mechanical, engineering group, which also has business in property development, trades at cheap valuation of 5x FY10 P/E vs 7x industry average.
Research house notes market yet to recognise TEE's growth potential in property business, which expected to drive earnings with 2 projects planned for completion in 2014-2015, potentially contributing combined $53 million-$64 million to group revenue.
Research house notes market yet to recognise TEE's growth potential in property business, which expected to drive earnings with 2 projects planned for completion in 2014-2015, potentially contributing combined $53 million-$64 million to group revenue.
Adds stock now trading cum-dividend of $0.022, which translates to potential 5% dividend yield. Shares last flat at $0.455.
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